(Filed Under wholesale Lingerie News). In long delayed reporting, La Perla acknowledged a loss for the full year 2021 of €45,327,000 (about $48.8 million at current exchange rates) on revenue of €72,148,000 (about $77.7 million) compared to a loss of €136,366,000 (about $146.8 million) on revenue of €66,237,000 (about $71.3 million) in 2020.

The board had held off issuing the 2021 results until December 30, 2022, the same day it released the results for the six months ended June 30, 2022.

In the first six months of 2022, the company lost €29,081,000 (about $31.3 million) on total revenue of €34,106,000, compared to a loss of €23,600,000 on revenue of €34,241,000 in the first half of 2021.

La Perla pointed to “the financial impact generated by Covid-19” on its results, adding the “Ukraine war has affected six months 2022 performances mainly due to the restrictions applied on Russian customers across the globe.” And even though the first half report was issued on December 30, 2022, the company included the zany statement that “as new targeted and general lock down measures might be implemented, it remains difficult to anticipate the trends for the second half of the year.”

In the first half of 2022, boutique sales were €18,330,000 (about $19.7 million) compared to €18,046,000 in the same period last year. Outlet sales were €3,255,000 compared to €3,675,000, and online sales rose to €8,366,000 compared to €7,897,000. Wholesale sales rose in the first six months of 2022 to €3,761,000 compared to €3,695,000 last year.

In consideration of the multi year losses at La Perla, the board included a going concern note, declaring, “given the current trading of the company and group and the funding considerations of the group and have formed the conclusion that it is appropriate to consider that the company will continue to operate in the foreseeable future.”—NM

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Published 01-12-2023 by Nick Monjo